What Is the FBAR and Who Needs to File It?
- Ketan Chauhan
- Jun 6
- 1 min read
The FBAR (Foreign Bank Account Report), officially FinCEN Form 114, is required if the total value of all your non-U.S. financial accounts exceeds $10,000 USD at any point in the year.
Key facts:
Applies to U.S. citizens, Green Card holders, and even some U.S. residents.
Accounts include checking, savings, investment, and joint accounts.
It’s filed separately from your tax return, and penalties for missing it are severe.
Even if no tax is due, FBAR compliance is essential. Nordfiscus can help ensure you meet all your filing obligations with peace of mind.
